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Corporate Update

Surat-Based Ajmera Fashion Limited Plans SME IPO

• By  Textile Excellence
• April 01, 2026

Ajmera Fashion Limited, a leading Surat-based ethnic fashion brand is preparing to step into the public markets with a proposed Initial Public Offering (IPO). This IPO’s Draft Red Herring Prospectus (DRHP) is expected to be filed between 3^rd – 4^th quarter of FY 2026-27.

Since its commencement in 2011, the brand has expanded its presence through a franchise-based retail model that empowers small business owners and retailers. With nearly 220 franchise stores currently operational across India, Ajmera Fashion Limited has issued more than 550 franchise tokens thus far. 

The company is consistently growing its international presence by exporting its products. Its overseas business operations reflect the increasing global demand for Indian ethnic wear and helped the company diversify its revenue beyond the domestic market. 

The company expects its revenue to reach approximately ₹200 crore in FY 2025-26, a significant rise from approximately ₹147 crore in FY 2024–2025. The profit after tax is expected to increase to ₹10–11 crore from ₹7 crore in the previous period.

Ahead of its IPO, the company is exploring a pre-IPO private placement to strengthen its capital base. The proposed round is expected to value the company at around ₹300 crore, with approximately 5% equity likely to be offered to investors.

Commenting on the company’s next phase of growth, Ajay Ajmera, Founder and CEO of Ajmera Fashion Limited, said, "We started this journey with one goal in mind: to make the textile business more accessible for small retailers and first-time entrepreneurs. Ajmera Fashion has built credibility that deeply connects with India’s emerging markets. The upcoming IPO is a significant step to strengthen our brand visibility, expand our product portfolio, and further advance our franchise expansion across the country.”

The company expects its revenue to reach approximately ₹200 crore in FY 2025-26, a significant rise from approximately ₹147 crore in FY 2024–2025. The profit after tax is expected to increase to ₹10–11 crore from ₹7 crore in the previous period. Ahead of its IPO, the company is exploring a pre-IPO private placement to strengthen its capital base. The proposed round is expected to value the company at around ₹300 crore, with approximately 5% equity likely to be offered to investors.